Stocks fell to intraday lows late in the session after the Wall Street Journal reported that Special Counsel Robert Mueller has impaneled a grand jury in Washington to investigate allegations of Russia’s interference in the elections. But major indexes quickly recouped those losses.
Two sources told Reuters on Thursday that grand jury has issued subpoenas in connection with a June 2016 meeting that included U.S. President Donald Trump‘s son, his son-in-law and a Russian lawyer.
“The grand jury is a sign that the investigation is growing in intensity over the Trump campaign’s possible collusion with Russia,” Stephen Innes, head of Asia-Pacific trading at OANDA, wrote in a note.
“Another toxic elixir for the greenback is brewing.”